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Home Sales Report March Of 2024

By
Industry Observer CDRE #01044712

On April 18, 2024, National Association of Realtors® (NAR) reported that nationwide existing home sales decreased 4.3% to annual rate of 4.19 million homes in March of 2024 from February of 2024, and declined 3.7% from 4.35 million homes from March of 2023.

There were 1.11 million homes supplies of available inventory in March of 2024, higher 4.7% from February of 2024, jumped 14.4% from 970,000 homes in March of 2023.

There were 3.2 months available inventory in March of 2024 gained from to 2.9 months in February of 2024, and grew from 2.7 months in March of 2023.

On average it took 33 days to sell a home in March of 2024, lower from 38 days in February of 2024, but higher from 29 days in March 2023.

First time buyers acquired 32.0% of homes in March of 2024, grew from 26.0% in February of 2024, but gained from 29.0% in March of 2023.
Investors purchased 15.0% of homes in March of 2024, declined from 21.0% in February of 2024, and dropped from 17.0% in March of 2023.

Cash buyers purchased 28.0% of all sales in March of 2024, lower from 33.0% in February of 2024, but higher from 27.0% in March of 2023.

For more complete information, on NAR's March 2024 existing home sales report, please click HERE

Posted by

John Pusa

Better way to buy and sell real estate

Office (818) 441-8881

Mobile (818) 441-8881

Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

It certainly is interesting to watch these nationwide trends, and also concerning.   

Apr 21, 2024 06:26 AM
John Pusa

Hello Michael Elliott thank you for the comment.

Apr 21, 2024 02:57 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

For the most part if is a good report and especially for first time home buyers that have been shut out of the market against cash buyers and investors

Apr 21, 2024 07:26 AM
John Pusa

Hello Ed Silva, 203-206-0754 thank you for the comment.

Apr 21, 2024 02:58 PM
KAREN SANCHEZ
Reputable Realty - Apple Valley, CA
...Marketing your home like no one else will.

Impressive amount of first time buyers.

Apr 21, 2024 07:33 AM
John Pusa

Hello KAREN SANCHEZ you are right that impressive amount of first time buyers. Thank you for the comment.

Apr 21, 2024 02:59 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello John and thank you for the NAR report to share with us here in the Rain.  Make it a great Sunday!

 

Apr 21, 2024 07:52 AM
John Pusa

Hello Will Hamm you are welcome, and make it a great Sunday too. Thank you for the comment.

Apr 21, 2024 03:00 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thanks for sharing, enjoy your weekend. Bill

Salvatore Arizona Elite Properties.

Apr 21, 2024 08:19 AM
John Pusa

Hello Bill Salvatore - East Valley enjoy your weekend too, and thank you for the comment.

Apr 21, 2024 03:01 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It's good to know the national stats, but also what is going on in the local markets!

Apr 22, 2024 05:39 AM
John Pusa

Hello Brian England I agree, it is good to know the national stats. Thank you for the comment.

Apr 22, 2024 04:55 PM